Attendance at the GENEX annual meeting – held virtually due to COVID-19 restrictions – is proof the GENEX cooperative system is alive and well. Your member-elected delegates from across the country joined in by computer or phone last week to hear reports from management and your council president, dairyman John Ruedinger of Van Dyne, Wisconsin.
“What members heard during this reimagined annual meeting was that the outlook for GENEX is stronger than ever,” states John. Specifically, he notes the cooperative’s genetic portfolio is better than ever, with PEAK continuing to evolve in both genetic power and semen production capacity. Likewise, the GENEX herd care line continues to expand with growing global demand for RumiLife® CAL24™ nutritional supplement.
The cooperative itself is stronger than ever after undergoing divestitures of unneeded and outdated facilities, renewing focus on core businesses and maximizing efficiencies since becoming part of URUS.
These 2019 activities led to what Chief Financial Officer Dave Mellinger calls the cooperative’s “best financial performance in many years.”
“Throughout 2019, we laid the foundation of a new GENEX,” states John. “Now we are also taking steps to modernize our cooperative governance structure, one that has not changed in over 25 years.”
GENEX CEO Huub te Plate shared with annual meeting attendees the details of the new, council-approved cooperative governance structure. The new structure focuses on different segments of the membership, including revenue, demographics and specific needs.
Among the changes are:
〉 A move from 13 geographical membership regions to a 4-tier structure based on the amount of business each member does with the cooperative while maintaining the cooperative principle of one member, one vote.
〉 A flexible and scalable tier system, allowing for growth of the cooperative. In the future additional tiers could be added; for example, an international-focused tier.
〉 Delegate and council director representation by tier rather than geographical region.
〉 A decrease in the size of cooperative council from 13 directors to a maximum of 11, with nine elected by the membership tiers and up to two at-large positions appointed by the council.
With renewed focus, increasing efficiency, stronger than ever genetic power and a modernized governance system, GENEX is positioned for growth. As John explains, “Our goal is for GENEX to be the most powerful cooperative supplier of progressive bovine genetic and reproductive solutions for producers around the world. At the same time, we want to ensure GENEX is the cooperative farmers want to be a part of, with a governance process that is relevant and truly makes a difference.”